2. Reducing debt


Life’s Financial Journeys

Heading Off to College
Getting Out on Your Own
Blending Two Lives
Having a Child
Emptying the Nest
Entering Retirement
Divorce
Death of a Life Partner
Military Life


Reducing Debt. “What are the basics to understanding debt and how do I reduce it?”

Debt can be a great resource for the purchase of assets most wouldn’t be able to pay for in cash. However, taking on too much debt is counterproductive to our financial success.

Understanding how debt affects your credit score and creating strategy to keep debt below certain thresholds is a step in the right direction in obtaining financial freedom.

The following subtasks may assist you in reducing debt. You will find detailed resources for these subtasks under the links in the right column of this page.

Subtask 1: Checking and understanding your credit reports and credit score

Subtask 2: Take steps to strengthen your credit

Subtask 3: If necessary, seek financial counseling


Military Life Tasks

1. Budgeting finances
2. Reducing debt
3. Finding housing
4. Protecting against risk
5. Managing taxes
6. Saving for education
7. Preparing for retirement
8. Updating your estate plan
9. Explore Your Benefits

Reducing debt Subtasks

1. Checking and understanding your credit reports and credit score
2. Take steps to strengthen your credit
3. If necessary, seek financial counseling

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